GuyM: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GuyM
Largest movements
- Stocks and contracts +€76,562
up €76,562 (+31.5%), from €243,329 to €319,890
- Cash -€25,069
down €25,069 (-40.4%), from €61,992 to €36,923
mainly Stocks and contracts (-€76,562) and Investment in fixed assets (net) (-€22,337)
- Receivables within one year +€14,022
up €14,022 (+70.9%), from €19,765 to €33,787
of which Trade receivables: +€14,588
- Other debts +€31,613
up €31,613 (+41.7%), from €75,792 to €107,405
- Reserves +€31,443
up €31,443 (+181.3%), from €17,343 to €48,786
- Short-term financial debts +€20,000
up €20,000 (+9.0%), from €223,000 to €243,000
- Tax, wage and social debts -€13,129
down €13,129 (-46.1%), from €28,502 to €15,373
of which Taxes: -€13,129
- Trade debts +€10,802
up €10,802 (+858.6%), from €1,258 to €12,060
- Gross operating margin +€12,525
up €12,525 (+21.0%), from €59,552 to €72,077
- Taxes +€6,566
up €6,566 (+108.8%), from €6,035 to €12,601
- Depreciation -€2,232
down €2,232 (-13.9%), from €16,022 to €13,790
- Financial charges -€1,319
down €1,319 (-11.2%), from €11,759 to €10,440
of which Non-recurring financial charges: -€3,050
- Other operating charges +€1,165
up €1,165 (+44.1%), from €2,643 to €3,808
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €382,157 | €456,353 | +€74,196 | +19.4% |
| Fixed assets | 21/28 | €56,050 | €64,597 | +€8,547 | +15.2% |
| Intangible fixed assets | 21 | - | €3,316 | +€3,316 | |
| Tangible fixed assets | 22/27 | €50,550 | €52,030 | +€1,480 | +2.9% |
| Furniture and vehicles | 24 | €41,746 | €42,998 | +€1,252 | +3.0% |
| Other tangible fixed assets | 26 | €8,803 | €9,032 | +€229 | +2.6% |
| Financial fixed assets | 28 | €5,500 | €9,250 | +€3,750 | +68.2% |
| Current assets | 29/58 | €326,107 | €391,757 | +€65,649 | +20.1% |
| Stocks and contracts in progress | 3 | €243,329 | €319,890 | +€76,562 | +31.5% |
| Stocks | 30/36 | €243,329 | €319,890 | +€76,562 | +31.5% |
| Amounts receivable within one year | 40/41 | €19,765 | €33,787 | +€14,022 | +70.9% |
| Trade receivables | 40 | €17,300 | €31,888 | +€14,588 | +84.3% |
| Other amounts receivable | 41 | €2,465 | €1,899 | -€566 | -22.9% |
| Cash at bank and in hand | 54/58 | €61,992 | €36,923 | -€25,069 | -40.4% |
| Deferred charges and accrued income | 490/1 | €1,022 | €1,157 | +€135 | +13.2% |
| Total equity and liabilities | 10/49 | €382,157 | €456,353 | +€74,196 | +19.4% |
| Equity | 10/15 | €23,343 | €54,786 | +€31,443 | +134.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €17,343 | €48,786 | +€31,443 | +181.3% |
| Distributable reserves | 133 | €17,343 | €48,786 | +€31,443 | +181.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €358,814 | €401,567 | +€42,754 | +11.9% |
| Amounts payable after more than one year | 17 | €16,081 | €9,649 | -€6,432 | -40.0% |
| Financial debts | 170/4 | €16,081 | €9,649 | -€6,432 | -40.0% |
| Amounts payable within one year | 42/48 | €340,056 | €391,918 | +€51,862 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €11,504 | €14,081 | +€2,577 | +22.4% |
| Financial debts | 43 | €223,000 | €243,000 | +€20,000 | +9.0% |
| Credit institutions | 430/8 | €223,000 | €243,000 | +€20,000 | +9.0% |
| Trade debts | 44 | €1,258 | €12,060 | +€10,802 | +858.6% |
| Suppliers | 440/4 | €1,258 | €12,060 | +€10,802 | +858.6% |
| Taxes, remuneration and social security | 45 | €28,502 | €15,373 | -€13,129 | -46.1% |
| Taxes | 450/3 | €26,102 | €12,973 | -€13,129 | -50.3% |
| Remuneration and social security | 454/9 | €2,400 | €2,400 | = | 0.0% |
| Other amounts payable | 47/48 | €75,792 | €107,405 | +€31,613 | +41.7% |
| Accrued charges and deferred income | 492/3 | €2,677 | €0 | -€2,677 | -100.0% |
| Non-recurring operating income | 76A | €0 | €3,077 | +€3,077 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,022 | €13,790 | -€2,232 | -13.9% |
| Other operating charges | 640/8 | €2,643 | €3,808 | +€1,165 | +44.1% |
| Non-recurring operating charges | 66A | €5,752 | €0 | -€5,752 | -100.0% |
| Gross operating margin | 9900 | €59,552 | €72,077 | +€12,525 | +21.0% |
| Operating profit (loss) | 9901 | €35,135 | €54,479 | +€19,344 | +55.1% |
| Financial income | 75/76B | €3 | €4 | +€2 | +54.7% |
| Recurring financial income | 75 | €3 | €4 | +€2 | +54.7% |
| Financial charges | 65/66B | €11,759 | €10,440 | -€1,319 | -11.2% |
| Recurring financial charges | 65 | €8,709 | €10,440 | +€1,731 | +19.9% |
| Non-recurring financial charges | 66B | €3,050 | €0 | -€3,050 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €23,379 | €44,044 | +€20,665 | +88.4% |
| Income taxes | 67/77 | €6,035 | €12,601 | +€6,566 | +108.8% |
| Profit (loss) for the period | 9904 | €17,343 | €31,443 | +€14,099 | +81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,343 | €31,443 | +€14,099 | +81.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.